Ransomware is evolving from a relatively low-dollar extortion racket, into a more sophisticated, more expensive, and more prevalent major criminal activity. Hardly a day goes by anymore without ransomware or cyber extortion making the news. A seeming turning point in the severity of this crime was the mid-February 2016, cyber extortion of a large Los Angeles hospital chain where a reported ransom of $3 million was originally demanded. Although the ransom ultimately paid was 40 bitcoins (about $17,000, a far cry from $3 million), its payment nevertheless represents a substantial and noteworthy increase from the hundred dollar ransoms that were previously commonplace. Among those taking note are insurers providing cyber coverage, who often will include ransomware coverage in their policies. Since this manner of cybercrime is going to be with us for the foreseeable future, insurers and their insureds are best served by proactively managing, and thereby perhaps eliminating, the harm that may result from a ransomware attack.